Guggenheim Capital LLC increased its position in Freeport-McMoRan Inc (NYSE:FCX) by 4.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,305,644 shares of the natural resource company’s stock after acquiring an additional 129,511 shares during the quarter. Guggenheim Capital LLC’s holdings in Freeport-McMoRan were worth $62,675,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Freeport-McMoRan by 18.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,292,902 shares of the natural resource company’s stock valued at $341,073,000 after acquiring an additional 3,724,271 shares in the last quarter. Oakmont Corp bought a new stake in Freeport-McMoRan during the 3rd quarter valued at $41,553,000. Contrarius Investment Management Ltd boosted its position in Freeport-McMoRan by 74.3% during the 3rd quarter. Contrarius Investment Management Ltd now owns 6,176,460 shares of the natural resource company’s stock valued at $86,717,000 after acquiring an additional 2,633,409 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Freeport-McMoRan by 141.7% during the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,152,745 shares of the natural resource company’s stock valued at $78,736,000 after acquiring an additional 2,434,376 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Freeport-McMoRan by 522.6% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 2,554,280 shares of the natural resource company’s stock valued at $35,861,000 after acquiring an additional 2,144,008 shares in the last quarter. 69.84% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the company. Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 17th. TheStreet raised Freeport-McMoRan from a “c” rating to a “b-” rating in a research report on Thursday, January 25th. Royal Bank of Canada increased their target price on Freeport-McMoRan to $22.00 and gave the company a “sector perform” rating in a research report on Monday. ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, February 20th. Finally, UBS Group raised their price objective on Freeport-McMoRan from $14.00 to $18.50 and gave the stock a “neutral” rating in a research report on Tuesday, March 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.75.
Shares of Freeport-McMoRan Inc (FCX) opened at $18.48 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37. The firm has a market capitalization of $26,871.98, a price-to-earnings ratio of 14.90 and a beta of 2.42. Freeport-McMoRan Inc has a 52-week low of $11.05 and a 52-week high of $20.25.
Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 25th. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.89 billion. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. research analysts expect that Freeport-McMoRan Inc will post 2.31 earnings per share for the current fiscal year.
In related news, VP C Donald Whitmire, Jr. sold 21,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total value of $419,035.00. Following the completion of the transaction, the vice president now owns 70,239 shares in the company, valued at approximately $1,368,958.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.29% of the company’s stock.
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Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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